;

Singaporean Family Office to Open Digital Bank in Bahrain

  • Publish date: Saturday، 20 May 2023
Singaporean Family Office to Open Digital Bank in Bahrain

The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the Kingdom's Economic Development Board said on Thursday.

It expects to open the digital bank in the Gulf country by the end of 2023 and is aiming for a global client base.

The digital bank will offer digital asset trading, custody, and management among other digital banking services. 

The Central Bank of Bahrain has given the bank approval in principle pending the fulfillment of all requirements, Bloomberg reported. 

The Whampoa Group -- associated with two prominent Singaporean Lee families, including Amy Lee, and Lee Han Shih -- started its digital asset arm in 2021.